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BUSINESS
By Peter H. Frank | December 20, 1990
The parent of Sovran Bank/Maryland said yesterday that it expects to add between $225 million and $250 million during the fourth quarter to its reserves for souring loans, wiping out the banking company's earnings for the three months.C&S/Sovran Corp., based in Atlanta, said the provision resulted primarily from a deteriorating real estate market in the Washington area that was pushing up the level of troubled assets -- including loans -- by about $200 million, to a total of $700 million.
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BUSINESS
October 29, 1992
Marriott plan spurs another outcryMarriott Corp., under siege from big bondholders over its plan to split the company in two, is prompting another outcry from other investors worried about the hotel chain's reorganization plan. Marriott said yesterday about $200 million of a special kind of Marriott securities, convertible into the company's common stock, will instead convert into the new company that will keep $2.9 billion of debt and real estate under the plan.The latest detail of the controversial restructuring amounts to a "trampling of the rights of the convertible holder," said Barry Alter, president of Capital Performance Group, an investment adviser and owner of the Marriott preferred shares.
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SPORTS
By Jerry Bembry | July 15, 1991
A little of the luster may have been lost from the Sovran Bank Classic tennis tournament with the loss of Ivan Lendl, but tournament officials are hoping that Andre Agassi is enough to carry the field.Agassi, the No. 6-ranked player in the world and the defending Sovran champion, will head a field of 56 players in the tournament, which will begin today at the William H. G. FitzGerald Tennis Center in Washington. Qualifying matches took place during the weekend.Lendl, ranked No. 3 in the world, had been added as a wild card last week and was to be the tournament's top seed.
NEWS
By Rona Hirsch | December 11, 1991
The problem of parking your car at The Mall in Columbia during the busy holiday shopping season has reached new heights.On any weekend from now until Dec. 22 from noon to 4 p.m., you can drive to The Mall and be greeted by a 10-foot-talltoy wooden soldier or clown eager to point out available spaces. And for those who, after a long afternoon of shopping, can't rememberwhere they parked, the towering toys will graciously help locate themissing car."It's our way of greeting customers and readily assisting them in pointing out available parking places, a way of helpingcustomers get through a stressful time," said Suellen Weisberg, community events coordinator for the mall.
BUSINESS
February 28, 1991
C&S/Sovran Corp., parent of Sovran Bank/Maryland, said yesterday that it will unify its community banking operations in Washington, Maryland and Northern Virginia.The company said J. Harold Chandler will oversee the combined operations and become chief executive of its Washington and Maryland banks.Ralph Hicks will continue as president of Sovran Bank/Maryland, the company said, and Al D'Alessandro will become acting president of the Washington bank, replacing Robert P. Pincus, who resigned Tuesday.
SPORTS
By Jerry Bembry and Jerry Bembry,Sun Staff Correspondent | July 17, 1991
WASHINGTON -- Listen to Andre Agassi these days, and he gives the impression that playing second fiddle in the world of tennis is beginning to disturb him."I came into this summer focused, and I want to do well," Agassi said last night after defeating David Pate, 6-4, 6-3, in the second round of the Sovran Bank Classic at the William H.G. FitzGerald Tennis Center. "I've been put in a position where I have to."That's how you feel when you've been one of the top players in the world the past four years, only to watch guys like Jim Courier (1991 French Open champion)
SPORTS
By Phil Jackman | July 3, 1991
Reading time, two minutes:The field is building nicely for the Sovran Bank Tennis Classic in Washington July 15-21. Aaron Krickstein, Jay Berger, Brad Gilbert, Jimmy Arias, Ramesh Krishnan and 1990 finalist Jim Grabb join John McEnroe and defending champ Andre Agassi.Meanwhile, Champions sports bar is running an Agassi look-alike contest open to both males and females July 11. The winner gets a one-year contract with the Ron Smith Celebrity Agency out of Los Angeles and an introduction to the "Image is everything" kid. Wendy at (202)
SPORTS
By Jerry Bembry and Jerry Bembry,Sun Staff Correspondent | July 16, 1991
WASHINGTON -- After an afternoon of hitting balls in the intense heat on the practice court at the William H.G. FitzGerald Tennis Center, Jim Grabb entered the players lounge with a smile on his face."
BUSINESS
By Thomas C. Hayes and Thomas C. Hayes,New York Times News Service Tim Mullaney of The Sun's Business staff contributed to this article | June 27, 1991
NCNB Corp., a fast-growing banking powerhouse from the Southeast, is negotiating to acquire another large Southeastern banking company in what would be the largest merger in U.S. banking history and set the stage for a decade of consolidation in the troubled industry.Directors of C&S/Sovran Financial Corp., which itself is the product of a merger last year, could decide as soon as today to accept NCNB's offer to combine and become the nation's second-largest banking organization, with operations stretching from the coastal cities of Baltimore and Miami to the oilfields of West Texas and assets of $117 billion.
BUSINESS
By Timothy J. Mullaney | October 17, 1990
A headline in last Wednesday's Sun incorrectly indicated that earnings at First Maryland Bancorp. had plunged in the quarter ended Sept. 30. Actually, the holding company's operating income was up slightly from 1989 levels.Third-quarter earnings were down at three banking companies that control some of Maryland's biggest banks, the three companies said yesterday.Earnings at Richmond, Va.-based Signet Banking Corp., C&S/Sovran Corp., based in Atlanta, and First Maryland Bancorp, of Baltimore, were all down.
BUSINESS
By American Banker | September 5, 1991
NEW YORK -- Regional networks of automated teller machines, the fastest-growing segment of the electronic-banking business in the 1980s, face what could be a Darwinian struggle for survival in the 1990s.The business climate is being reshaped by a spate of bank mega-mergers, which is expected to intensify, and growing competitive pressures among banks, networks and technology companies.The changes are forcing banking companies that own regional ATM networks to consider whether their franchises have reached maximum value and, if so, to contemplate mergers or sales of their stakes.
SPORTS
By Phil Jackman | July 24, 1991
Reading time, two minutes: A friend once gained relief in the courts when his "one-owner used car" deal turned out to be a barely reconditioned squad car of the New York Police Department. A similar story was provided by Donnie Allison during a recent stock car race on the telly. Back in the days when drivers didn't have tire contracts, Allison says the boys used to go to Sears for a set of tires on a Friday, race 'em over the weekend and show up Monday complaining about lousy tire wear. "It went on for years and they never caught on," said Donnie.
NEWS
July 24, 1991
Baltimore suddenly finds itself the northernmost outpost of NationsBank, the first mega-regional bank in the country. The impact on the local banking scene will be minor at first, but the long-term implications are large indeed. With banking merger mania taking hold, coast-to-coast, it is predictable that super-regionals will be eyeing the Baltimore market and looking for acquisition targets.The newly merged combination of NCNB Corp. of Charlotte, N.C., and C&S/Sovran of Richmond and Atlanta is described as "a bank with a Southern accent and a truly national reach."
BUSINESS
By Ross Hetrick and Ross Hetrick,Evening Sun Staff | July 23, 1991
The immediate beneficiaries of the proposed merger between banking giants NCNB Corp. and C&S/Sovran Corp. could be their smaller rivals, who may capitalize on the initial confusion that usually comes with such combinations."
SPORTS
By Jerry Bembry and Jerry Bembry,Sun Staff Correspondent | July 22, 1991
WASHINGTON -- After winning his second straight Sovran Bank Classic, Andre Agassi wouldn't apologize for the relative ease with which he stormed through the field.Yesterday's victim was Petr Korda, whom Agassi defeated, 6-3, 6-2, to earn the $77,000 top prize.In staying on the court for just 5 hours, 20 minutes during the tournament -- yesterday's match took 1:05 -- Agassi won every set he played for the second straight year."I got through everybody rather easily, but I wouldn't expect to do that next week or next year here," Agassi said.
SPORTS
By Sandra McKee and Sandra McKee,Evening Sun Staff | July 22, 1991
WASHINGTON -- The court shimmered in the mid-afternoon heat. The temperature rose to 107 degrees, and Andre Agassi blistered the hard surface of the Stadium Court at the FitzGerald Tennis Center with serves registering 105 mph.Who could have a chance in the face of such an onslaught?Certainly Petr Korda tried, but the 12th seed, currently 69th in the world standings, undermined his own hopes by negative thoughts about the heat and its effect on his game."It was very difficult for me to play," said Korda.
BUSINESS
By Ross Hetrick and Ross Hetrick,Evening Sun Staff | July 23, 1991
The immediate beneficiaries of the proposed merger between banking giants NCNB Corp. and C&S/Sovran Corp. could be their smaller rivals, who may capitalize on the initial confusion that usually comes with such combinations."
BUSINESS
By Knight-Ridder | July 22, 1991
NCNB Corp. will buy C&S/Sovran Corp., forming the nation's third biggest bank, in a transaction valued at $4.2 billion.The two banks plan to announce details of the buyout today in news conferences in New York in the morning and Charlotte, N.C., and Atlanta in the afternoon.Bennett Brown, now chairman of C&S/Sovran, will become chairman of NCNB, which will be renamed NationsBank, sources say. Hugh McColl Jr., now NCNB chairman, will be chief executive and replace Brown, 62, who planned to retire from C&S/Sovran within the next year.
BUSINESS
By Knight-Ridder | July 22, 1991
NCNB Corp. will buy C&S/Sovran Corp., forming the nation's third biggest bank, in a transaction valued at $4.2 billion.The two banks plan to announce details of the buyout today in news conferences in New York in the morning and Charlotte, N.C., and Atlanta in the afternoon.Bennett Brown, now chairman of C&S/Sovran, will become chairman of NCNB, which will be renamed NationsBank, sources say. Hugh McColl Jr., now NCNB chairman, will be chief executive and replace Brown, 62, who planned to retire from C&S/Sovran within the next year.
SPORTS
By Jerry Bembry and Jerry Bembry,Sun Staff Correspondent | July 21, 1991
WASHINGTON -- After a virtual evening stroll through his first four matches of the Sovran Bank Classic, today's the day that Andre Agassi finally gets to feel the heat.Agassi advanced to today's championship, barely extending himself in last night's 6-3, 6-2 semifinal win over sixth-seeded Jaime Yzaga of Peru. The top seed will face No. 12 seed Petr Korda, who earlier beat Markus Zoecke, 6-2, 6-4.It will be Agassi's first day match of the tournament, where temperatures yesterday afternoon reached 108 degrees at courtside.
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